MIRA
INFORM REPORT
|
Report Date : |
10.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
PARKSONS CARTAMUNDI PRIVATE LIMITED (w.e.f. 22.01.2011) |
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Formerly Known
As : |
PARKSONS GAMES AND SPORTS PRIVATE LIMITED |
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Registered
Office : |
701 – A, Indiabulls Finance Centre, Tower No. 1, Senapati Bapat Marg,
Elphinstone Road, Mumbai – 400013, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.09.2010 |
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Com. Reg. No.: |
11-207708 |
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Capital
Investment / Paid-up Capital : |
Rs. 8.290 Millions |
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CIN No.: [Company Identification
No.] |
U36912MH2010PTC207708 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
Information Declined By The Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Management has reported a loss from its operations during FY 14. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
Management non co – operative
Tel No.: 91-260-2370092
LOCATIONS
|
Registered Office : |
701 – A, Indiabulls Finance Centre, Tower No. 1, Senapati Bapat Marg, Elphinstone
Road, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66245221 |
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Fax No.: |
91-22-24221192 |
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E-Mail : |
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Website : |
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Plant : |
Survey Nos. 584 and 585, Machiwad Road, Village: Umarsadi, Taluka:
Pardi, District: Valsad, Gujarat – 396175, India |
DIRECTORS
As on: 23.07.2014
|
Name : |
Mr. Sajjan B Kejriwal |
|
Designation : |
Managing Director |
|
Address : |
1701, Saarthi, 33, K M Munshi Marg, Chowpatty, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
06.03.1954 |
|
Date of Appointment : |
15.09.2010 |
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DIN No.: |
00214064 |
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Name : |
Mr. Kapil Sajjan Kejriwal |
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Designation : |
Whole Time Director |
|
Address : |
1703, Saarthi, 33, K M Munshi Marg, Chowpatty, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
18.02.1979 |
|
Date of Appointment : |
15.09.2010 |
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DIN No.: |
00214101 |
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Name : |
Mr. Chris Van Doorslaer |
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Designation : |
Director |
|
Address : |
Meibosstraat, 11 B – 9200, Baasrod, Belgium |
|
Date of Birth/Age : |
05.02.1961 |
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Date of Appointment : |
24.11.2010 |
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DIN No.: |
03319267 |
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Name : |
Mr. Paul Michael Roberts |
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Designation : |
Director |
|
Address : |
North End, Janette Avenue, Canvey Island SS8 OLB, Great Britan |
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Date of Birth/Age : |
05.01.1967 |
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Date of Appointment : |
01.08.2013 |
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DIN No.: |
06608512 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 23.07.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Sajjan B. Jejriwal |
78720 |
9.49 |
|
Ramesh B. Kejriwal |
59130 |
7.13 |
|
Siddharth R. Kejriwal |
28000 |
3.38 |
|
Chaitanya R. Kejriwal |
28000 |
3.38 |
|
Kapil S. Kejriwal |
79144 |
9.55 |
|
Aditi K. Kejriwal |
51000 |
6.15 |
|
Asha S. Kejriwal |
90546 |
10.92 |
|
Cartamundi Nederland Bv |
414540 |
50.00 |
|
Total
|
829080 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 23.07.2014
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
50.00 |
|
Directors or relatives of directors |
|
43.25 |
|
Other top fifty shareholders |
|
6.75 |
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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GENERAL INFORMATION
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No. of Employees : |
Information Declined By The Management |
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Bankers : |
·
ING Vysya Bank Limited, Shop. No 1 to 6, Surya
Plaza, Near Udhna Darwaja, Ring Road, Surat – 395002, Gujarat, India ·
State Bank Of India, SMA Backbay, Reclamation Branch,
Mittal Court, B Wing, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
CNK and Associates LLP Chartered Accountants |
|
Address : |
Narain Chambers, 5th Floor, M. G. Road, Vile Parle (East), Mumbai
– 400057, Maharashtra, India |
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Tel. No.: |
91-22-64577600 |
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Fax No.: |
91-22-26128580 |
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PAN No.: |
AACFC8587E |
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Associates/Subsidiaries : |
Cartamundi BV Limited Cartamundi UK Limited Cartamundi Turnhout Nv Cartamundi Nordiac AB – Sweden Cartamundi Asia Pacific Cartamundi Polska SP Cartamundi Espana SL Cartamundi Service NV Copag DA Amazonia S/A Cartamundi NV |
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Enterprises over which Key Management Personnel (KMP) exercise
Significant Influence : |
Parksons Press Private Limited Parksons Packaging Limited Beekay Packer U. K. Packers Sonnet Packers Anjali Corporation Arkay Playing Card Company Siddharth Trading Company Sunidhi Foods Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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|
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|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
829080 |
Equity Shares |
Rs.10/- each |
Rs. 8.290
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
8.290 |
8.290 |
8.290 |
|
(b) Reserves & Surplus |
226.315 |
273.796 |
261.167 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
234.605 |
282.086 |
269.457 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
110.250 |
146.965 |
12.546 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
9.866 |
7.014 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.512 |
1.432 |
1.036 |
|
Total Non-current
Liabilities (3) |
111.762 |
158.263 |
20.596 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
152.729 |
72.860 |
59.121 |
|
(b)
Trade payables |
53.394 |
55.999 |
86.449 |
|
(c)
Other current liabilities |
86.101 |
54.144 |
20.884 |
|
(d) Short-term
provisions |
0.206 |
1.483 |
4.851 |
|
Total Current
Liabilities (4) |
292.430 |
184.486 |
171.305 |
|
|
|
|
|
|
TOTAL |
638.797 |
624.835 |
461.358 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
389.624 |
322.542 |
162.016 |
|
(ii) Intangible
Assets |
14.718 |
16.978 |
18.966 |
|
(iii)
Capital work-in-progress |
10.814 |
1.952 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.259 |
6.677 |
2.695 |
|
(e) Other
Non-current assets |
0.384 |
0.473 |
0.000 |
|
Total Non-Current
Assets |
418.799 |
348.622 |
183.677 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
101.525 |
111.189 |
116.471 |
|
(c)
Trade receivables |
95.783 |
118.248 |
120.955 |
|
(d) Cash
and cash equivalents |
7.336 |
8.626 |
28.667 |
|
(e)
Short-term loans and advances |
13.773 |
36.954 |
9.697 |
|
(f)
Other current assets |
1.581 |
1.196 |
1.891 |
|
Total
Current Assets |
219.998 |
276.213 |
277.681 |
|
|
|
|
|
|
TOTAL |
638.797 |
624.835 |
461.358 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
520.490 |
583.580 |
523.060 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
514.370 |
530.320 |
462.060 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
6.120 |
53.260 |
61.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
36.000 |
15.200 |
10.320 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(29.880) |
38.060 |
50.680 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
27.470 |
17.660 |
14.980 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(57.350) |
20.400 |
35.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(9.870) |
7.770 |
13.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(47.480) |
12.630 |
22.150 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
16.053 |
13.638 |
20.477 |
|
|
TOTAL EARNINGS |
16.053 |
13.638 |
20.477 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
8.627 |
9.025 |
1.800 |
|
|
|
Stores & Spares |
0.888 |
2.154 |
1.963 |
|
|
|
Capital Goods |
0.000 |
17.289 |
18.725 |
|
|
|
Others |
4.170 |
1.264 |
0.341 |
|
|
TOTAL IMPORTS |
13.685 |
29.732 |
22.829 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(57.00) |
15.23 |
30.38 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(9.12) |
2.16 |
4.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.13) |
3.28 |
7.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.24) |
0.07 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.12 |
0.78 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.75 |
1.50 |
1.62 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
8.290 |
8.290 |
8.290 |
|
Reserves & Surplus |
261.167 |
273.796 |
226.315 |
|
Net worth |
269.457 |
282.086 |
234.605 |
|
|
|
|
|
|
long-term borrowings |
12.546 |
146.965 |
110.250 |
|
Short term borrowings |
59.121 |
72.860 |
152.729 |
|
Total borrowings |
71.667 |
219.825 |
262.979 |
|
Debt/Equity ratio |
0.266 |
0.779 |
1.121 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
523.060 |
583.580 |
520.490 |
|
|
|
11.570 |
(10.811) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
523.060 |
583.580 |
520.490 |
|
Profit |
22.150 |
12.630 |
(47.480) |
|
|
4.23% |
2.16% |
(9.12%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBT:
(Rs.
in Millions)
|
Particulars
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current Maturities of Long Term Debt |
37.810 |
25.101 |
8.086 |
|
Total
|
37.810 |
25.101 |
8.086 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note: The Registered Office
of the company has been shifted from 1701/1702, Saarthi, 33 K. M. Munshi Marg,
Near Bharti Vidya Bhavan, Chowpatty, Mumbai – 400007, Maharashtra, India to the
present address w.e.f. 01.08.2013.
Unsecured Loan
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
|
(Rs. In Millions) |
|
|
SHORT TERM
BORROWINGS: |
|
|
|
Loans from directors, members and their relatives |
21.694 |
20.815 |
|
Total |
21.694 |
20.815 |
REVIEW OF OPERATIONS:
The total income for the year was lower by 10.8%. The Company incurred a maiden loss as against profit for the previous year. Higher provision for depreciation and steep increase in interest cost were the main factors. Also, the trading games cards business remained almost negligible through-out the year. The Company had no alternative but to concentrate on its traditional playing cards business.
The total income for the year was Rs.520.49 million as against Rs.583.58 million in the previous year and loss was Rs.47.48 million after deferred tax adjustments as against pre-tax profit of Rs.20.40 million a year ago.
GREENFIELD PROJECT:
The Company's Greenfield project at Village Umersadi, Taluka Pardi, Dist. Valsad, Gujarat, was completed during the year and is running at its expected level. Operations at Daman unit were reduced considerably and the Directors propose to close the entire unit during the current year.
FUTURE PROSPECTS:
The capacity and space constraints, which the Company was facing earlier, stands resolved with commencement of the new factory. This has led not only in capacity addition but also led to a better labour motivation.
The management of the Company is entirely focused to its playing cards business. Efforts are being made to enter export market with the help of Cartamundi Group Companies. Negotiations are also at an advanced stage with Matte1 Toys for their global (especially Asian) business. To reduce the debt and keep the Company's financial position healthy, it is decided to raise Rs.30.066Millions by issuing Equity Shares to its existing shareholders on a rights basis. In the current year, the Company has also disposed off part of its factory premises in Daman. The balance premises it1 Daman will also be disposed off shortly. With increased volume of sales as also reduced debt and various cost cutting measures, the Directors are of the opinion that the Company should generate a modest positive cash flow in the current financial year.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10374181 |
27/05/2013 * |
326,000,000.00 |
ING VYSYA BANK LIMITED |
SHOP NO.1 TO 6,SURYA PLAZA,, NEAR UDHNA DARWAJA,RING ROAD,, SURAT - 395002, GUJARAT, INDIA |
B77945459 |
FIXED ASSETS:
·
Land
·
Building
·
Computers
·
Furniture and Fixtures
·
Vehicles
·
Trade Marks
·
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgment or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration:
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration:
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime:
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws:
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards:
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government:
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package:
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report:
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
|
|
1 |
Rs.97.25 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent.
Repayment of interest and principal sums in default or expected to be in
default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.